IBM Corp.'s first-quarter net income and revenue fell due to delays in closing several large software and mainframe computer deals. It earned $3.03 billion, or $2.70 per share, vs. $3.07 billion, or $2.61, a year earlier. Last year's quarter had more outstanding shares, which lowers per-share results. Excluding some items, earnings were $3 per share, below Wall Street's expectations of $3.05 per share. IBM still expects adjusted, full-year earnings of at least $16.70 per share.
IBM results fall short of Wall St. forecast
